“K” Line: The settlement of the lawsuit against APL Logistics Ltd.

In September 2016, employees of APL Logistics Ltd.(APLL) sent erroneous e-mails to its customers which were not based on the facts regarding our financial situation. We thereafter filed a lawsuit at the Tokyo District Court in December 2016 demanding damages in relation to such e-mails.

APLL and its parent company, Kintetsu World Express, Inc., acknowledged the fact that the e-mails included an erroneous report, expressed their regret and responded sincerely, and now we and APLL have reached an amicable settlement in relation to that claim.